A head start in Spanish equities

Also available in Spanish, see next article.

First of all, let’s be clear. The following is not investment research/advice.?And, as such, it involves no investment recommendations. These are notes I take to keep myself current on newsflow regarding Spanish equities. I share them freely (and not just as regards price). As always, I am only trying to help. Please read the rest of the “discomplainer (*)” at the end of the article.

Stories in alphabetical order

Amadeus???(=) 1Q23 net profit €273m vs. €95m on revenues of €1.211bn +43% (Expansion p6)

Applus+???(=) 1Q23 net profit €17.9m vs. €18m on revenues of €476.8m +3% (Expansion p6)

Banks sector??(+/=) Deposit rates are still 35% below the European average (Cinco Dias p18)

BBVA??(=) Focuses on capturing Banamex’s clients in Mexico (Expansion p21)

Endesa?(=) 1Q23 net profit €594m +76% on EBITDA of €1.462bn +60% (Expansion p3)

Gestamp?(=) 1Q23 net profit €80m +78% on revenues of €3.144bn +39.4% and EBITDA of €336m +32.7% (Expansion p6)

Grifols (=) 1Q23 loss of €108m vs. profit of €53m on revenues of €1.561m +23.2% and EBITDA of €298m +19%, and upgrades its guidance (Expansion p8)

Iberdrola?(=) Enel, BP and total are Iberdrola’s rivals for he acquisition of RWE (OK Diario)

Investment Strategy??(-) The Ibex index falls 0.31% to 9,183, with China weighing on the market (Expansion p25)

(-/=) Catalonia will expropriate empty homes held by large landlords if they are not devoted to social rental (Expansion p34)

(=) The Government will spend €2.5bn on guarantees for house purchase (Expansion p35)

NH Hotel Group???(=) Minor will not exclude NH from the market and will buy shares at market prices after rejection by the Stock Exchange Commission (CNMV) of its proposed bid price (Expansion p5)

Utilities & Ren sector??(=) Endesa challenges Iberdrola and Repsol with its largest commercial offensive (Expansion p3)

Vocento??(=) 1Q23 net loss of €9.19m vs. profit of €3.5m on revenues of €83.38m +9.2% and EBITDA of €1.99m vs. €73,000 (Expansion p8)

*The above information has been read/understood/summarised/evaluated/copied as well as I could to provide a guide to Spanish equities (as part of a personal research project on the impact of information transparency on the market i.e. “derecho de cita”), given available timing/intellectual constraints, and I accept no liability for misreading and/or mistranslating the original copy (which I urge you to check, as I am only trying to point you in the right direction, I hope). As for what you may decide to do, after reading the above, please contact your legally approved provider of investment advice on Spanish equities. Feel free to copy (but remember to check the original first).